President Donald Trump has unveiled a controversial $5 million gold card visa proposal that could reshape US immigration for wealthy investors. This initiative, presented as a replacement for the EB-5 program, promises a direct pathway to citizenship while generating trillions in federal revenue.
During a Cabinet meeting, Trump emphasized the program's economic potential:
If we sell a million, that's $5 trillion dollars. They'll employ people, pay taxes, and reduce our debt.The plan would eliminate the 35-year-old EB-5 system criticized for fraud vulnerabilities and inadequate oversight.
Key differences between the programs include:
- 500% cost increase from EB-5's $1M threshold
- Automatic citizenship eligibility vs temporary residency
- Reduced congressional oversight in implementation
Commerce Secretary Howard Lutnick confirmed the gold card visa would function similarly to green cards but with enhanced vetting procedures. While country-based restrictions remain unclear, Trump suggested focusing on individual screening rather than national origin bans.
The proposal emerges as global competition for investor migration intensifies. Over 100 countries currently offer golden visas, including:
- UK's Tier 1 Investor Visa (£2M)
- Portugal's Golden Visa (€500K property investment)
- Canada's Immigrant Investor Program (C$2M)
Critics question the ethics of monetizing citizenship, while supporters argue it could attract top talent. Recent DHS data shows 8,000 investor visas issued in FY2022, suggesting potential scalability if the $5M threshold doesn't deter applicants.
Trump's vision extends beyond immediate revenue:
Companies will pay for skilled workers' entry, creating long-term economic growth.The plan bypasses Congressional approval requirements, leveraging executive authority to reshape immigration priorities.